Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced its financial results for the third quarter ended September 30, 2021, raised full-year 2021 guidance for Subscription & Maintenance Revenue, raised the high-end and tightened the range for total revenue and tightened the range towards the high-end of guidance on all other full-year 2021 metrics.

Total revenue increased 12.4% year-over-year in the third quarter to $101.6 million, as the Recurring Revenue components of the Company’s business continued on a strong trajectory. Subscription revenue was $28.0 million, an increase of 56.4% year-over-year, reflecting continued growth in paid subscriptions for creative tools, including an acceleration in Pro Tools net adds in the third quarter, and strong enterprise subscription sales in the quarter.

The continued revenue growth resulted in GAAP net income per share of $0.32 and Non-GAAP Net Income per Share of $0.27, which was at the higher end of the guidance range provided for the third quarter. This strong profitability resulted in net cash provided by operating activities of $16.5 million, and Free Cash Flow of $14.0 million for the quarter.

Third Quarter 2021 Financial and Business Highlights

  • Subscription revenue was $28.0 million, an increase of 56.4% year-over-year.
  • Paid Cloud-enabled software subscriptions increased by 35.0% year-over-year to approximately 389,000 at September 30, 2021 and increased by approximately 19,300 from June 30, 2021.
  • Subscription & Maintenance revenue was $58.7 million, an increase of 20.5% year-over-year.
  • Total revenue was $101.6 million, an increase of 12.4% year-over-year.
  • LTM Recurring Revenue % was 77.1% of the Company’s revenue for the 12 months ended September 30, 2021, up from 71.2% for the 12 months ended September 30, 2020.
  • Annual Contract Value was $328.0 million as of September 30, 2021, a year-over-year increase of 20.6%, from $271.9 million as of September 30, 2020.
  • Gross margin was 64.8%, an increase of 40 basis points year-over-year. Non-GAAP Gross Margin was 65.3%, an increase of 40 basis points year-over-year.  
  • Operating expenses were $56.4 million, an increase of 24.8% year-over-year.   Non-GAAP Operating Expenses were $51.3 million, an increase of 24.1% year-over-year. The prior year included significant temporary cost savings initiatives that were put in place due to the COVID-19 pandemic, including a $6.0 million benefit from temporary employee furloughs in the third quarter of 2020, which affect comparisons to the prior year period for operating expenses, net income, Adjusted EBITDA, net cash provided by operating activities and Free Cash Flow.
  • Net income was $14.8 million, an increase of 85.0% year-over-year.   Net income in the third quarter of 2021 included a one-time $7.9 million benefit from the forgiveness of the PPP loan and accrued interest.   Non-GAAP Net Income was $12.4 million, an increase of 1.9% year-over-year.   Both net income and Non-GAAP Net Income in the third quarter of 2020 benefitted from the significant temporary cost savings discussed above.
  • Net income per common share was $0.32 up from net income per common share of $0.18 in the third quarter of 2020. Net income per common share in the third quarter of 2021 included a one-time benefit of $0.17 per common share from the forgiveness of the PPP loan and accrued interest. Non-GAAP Net Income per Share was $0.27, unchanged from the third quarter of 2020.   Both net income per common share and Non-GAAP Net Income per Share in the third quarter of 2020 benefitted from the significant temporary cost savings discussed above.
  • Adjusted EBITDA was $17.0 million, a decrease of 11.9% year-over-year. Adjusted EBITDA Margin was 16.8%, a year-over-year decrease of 460 basis points. Adjusted EBITDA in the third quarter of 2020 benefitted from the significant temporary cost savings discussed above.
  • Net cash provided by operating activities was $16.5 million in the quarter, a decrease of $1.5 million compared to net cash provided by operating activities of $18.0 million in the prior year period.   Free Cash Flow was $14.0 million in the quarter, a decrease of $1.5 million from $15.5 million in the prior year period. Both net cash provided by operating activities and Free Cash Flow in the third quarter of 2020 benefitted from the significant temporary cost savings discussed above.
  • Share repurchases under the $115 million share repurchase authorization announced on September 9, 2021 totaled approximately 412,000 shares for $11.2 million during the third quarter.

Jeff Rosica, Avid’s Chief Executive Officer and President, stated, “We are pleased that we were able to significantly grow our revenue in the third quarter due to the strong performance of our subscription business and the strengthening recovery of our end markets, which allowed us to continue to deliver strong profitability and Free Cash Flow. As we enter the fourth quarter, which historically has been our strongest quarter, we believe we are well positioned to finish 2021 on a high note, and our momentum gives us confidence as we look out to 2022.”  

Ken Gayron, Chief Financial Officer and Executive Vice President of Avid, added, “We continued to grow our LTM Recurring Revenue %, which reached 77% of our total revenue as of the third quarter, and we delivered 56.4% year over year growth in subscription revenues. We also generated robust Free Cash Flow during the third quarter as a result of solid profitability and working capital management. Based on the strength in our business, we are raising guidance for Subscription & Maintenance Revenue for full-year 2021, we are raising the high-end and tightening the range of our total revenue guidance and we are tightening the range towards the high-end of guidance on all other full-year 2021 metrics.” Mr. Gayron continued, “Additionally, given the high degree of confidence we have in our plan, we announced a $115 million share repurchase authorization in September. Under this plan, we repurchased $11.2 million of our shares during the third quarter, and we have repurchased a total of $20 million of our shares as of November 8. Share repurchases are an important element of our capital deployment strategy which we expect will enhance overall shareholder returns.”

Full Year 2021 Guidance

Avid has revised its full-year 2021 guidance as shown in the table below.

($ in millions, except per share amounts) Prior GuidanceFull-Year 2021 New GuidanceFull-Year 2021
     
Revenue  $382 - $402 $398 – $404
     
Subscription & Maintenance Revenue $217 - $225  $225 – $230
     
Non-GAAP Net Income per Share $1.05 - $1.27 $1.18 – $1.26
     
Adjusted EBITDA $69 - $79  $73 – $78
     
Free Cash Flow $49 - $57  $52 – $57

All guidance presented by the Company is inherently uncertain and subject to numerous risks and uncertainties. Avid’s actual future results of operations could differ materially from those shown in the table above. For a discussion of some of the key assumptions underlying the guidance, as well as the key risks and uncertainties associated with these forward-looking statements, please see “Forward-Looking Statements” below as well as the Avid Technology Q3 2021 Earnings Call presentation posted on Avid’s Investor Relations website at ir.Avid.com.

Conference Call to Discuss Third Quarter 2021 Results on November 9, 2021

Avid will host a conference call to discuss its financial results for the third quarter on Tuesday, November 9, 2021, at 5:30 p.m. Eastern Time. Participants may join the webcast in listen-only mode and access the presentation slides using the link on the Avid Investor Relations website, which can be found on the events tab at ir.Avid.com. Participants who would like to ask a question can access the call by dialing +1 929-477-0577 and referencing confirmation code 9008735. Please connect at least 5 minutes in advance to ensure a timely connection to the call. A replay of the webcast will also be available for a limited time on the Avid Investor Relations website shortly after the completion of the call.

Non-GAAP Financial Measures and Operational Metrics

Avid includes non-GAAP financial measures in this press release, including Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Non-GAAP Gross Margin, Non-GAAP Operating Expenses, Non-GAAP Net Income, and Non-GAAP Net Income per Share. The Company also includes the operational metrics of Cloud-enabled software subscriptions, Recurring Revenue, LTM Recurring Revenue % and Annual Contract Value in this release. Avid believes the non-GAAP financial measures and operational metrics provided in this release provide helpful information to investors with respect to evaluating the Company’s performance. Unless noted, all financial and operating information is reported based on actual exchange rates. Definitions of the non-GAAP financial measures and the operational metrics are included in our Form 8-K filed today. Reconciliations of the non-GAAP financial measures presented in this press release to the Company's comparable GAAP financial measures for the periods presented are set forth below and are included in the supplemental financial and operational data sheet available on our Investor Relations website at ir.Avid.com, which also includes definitions of all operational metrics.

This press release also includes expectations for future Adjusted EBITDA, Non-GAAP Net Income per Share and Free Cash Flow, which are forward-looking non-GAAP financial measures. Reconciliations of these forward-looking non-GAAP measures are not included in this press release or elsewhere, due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from the estimation of the non-GAAP results, together with some of the excluded information not being ascertainable or accessible at this time. As a result, we are unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measure without unreasonable efforts.

Forward-Looking Statements

Certain information provided in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include statements regarding our future financial performance or position, results of operations, business strategy, plans and objectives of management for future operations, and other statements that are not historical fact. You can identify forward-looking statements by their use of forward-looking words such as “may”, “will”, “anticipate”, “expect”, “believe”, “estimate”, “intend”, “plan”, “should”, “seek”, or other comparable terms.

Readers of this press release should understand that these forward-looking statements are not guarantees of performance or results. Forward-looking statements provide our current expectations and beliefs concerning future events and are subject to risks, uncertainties, and factors relating to our business and operations, all of which are difficult to predict and could cause our actual results to differ materially from the expectations expressed in or implied by such forward-looking statements.

These risks, uncertainties, and factors include, but are not limited to: risks related to the impact of the coronavirus (COVID-19) outbreak and its variants on our business, suppliers, consumers, customers and employees; our liquidity; our ability to execute our strategic plan including our cost saving strategies, and to meet customer needs; our ability to retain and hire key personnel; our ability to produce innovative products in response to changing market demand, particularly in the media industry; our ability to successfully accomplish our product development plans; competitive factors; history of losses; fluctuations in our revenue based on, among other things, our performance and risks in particular geographies or markets; our higher indebtedness and ability to service it and meet the obligations thereunder; restrictions in our credit facilities; our move to a subscription model and related effect on our revenues and ability to predict future revenues; fluctuations in subscription and maintenance renewal rates; elongated sales cycles; fluctuations in foreign currency exchange rates; seasonal factors; adverse changes in economic conditions; variances in our Revenue Backlog and the realization thereof; risks related to the availability and prices of raw materials, including any negative effects caused by inflation, weather conditions, or health pandemics; disruptions or inefficiencies in our supply chain and/or operations, including from the COVID-19 outbreak; the costs, disruption, and diversion of management's attention due to the COVID-19 outbreak; the possibility of legal proceedings adverse to our Company; and other risks described in our reports filed from time to time with the U.S. Securities and Exchange Commission. Moreover, the business may be adversely affected by future legislative, regulatory or other changes, including tax law changes, as well as other economic, business and/or competitive factors. The risks included above are not exhaustive. We caution readers not to place undue reliance on any forward-looking statements included in this press release which speak only as to the date of this press release. We undertake no responsibility to update or revise any forward-looking statements, except as required by law.

About Avid

Avid delivers the most open and efficient media platform, connecting content creation with collaboration, asset protection, distribution, and consumption. Avid’s preeminent customer community uses Avid’s comprehensive tools and workflow solutions to create, distribute and monetize the most watched, loved and listened to media in the world—from prestigious and award-winning feature films to popular television shows, news programs and televised sporting events, and celebrated music recordings and live concerts. With the most flexible deployment and pricing options, Avid’s industry-leading solutions include Media Composer®, Pro Tools®, Avid NEXIS®, MediaCentral®, iNEWS®, AirSpeed®, Sibelius®, Avid VENUE™, FastServe®™ and Maestro™. For more information about Avid solutions and services, visit www.Avid.com, connect with Avid on Facebook, Instagram, Twitter, YouTube, LinkedIn, or subscribe to Avid Blogs.

© 2021 Avid Technology, Inc. All rights reserved. Avid, the Avid logo, Avid NEXIS, FastServe, AirSpeed, iNews, Maestro, MediaCentral, Media Composer, Pro Tools, Avid VENUE, and Sibelius are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. All other trademarks are the property of their respective owners. Product features, specifications, system requirements and availability are subject to change without notice.

Contacts

Investor contact: PR contact:
Whit Rappole Jim Sheehan
Avid Avid
ir@Avid.com  jim.sheehan@Avid.com 
AVID TECHNOLOGY, INC.              
Condensed Consolidated Statements of Operations              
(unaudited - in thousands, except per share data)              
               
  Three Months Ended September 30,   Nine Months Ended September 30,
    2021       2020       2021       2020  
Net revenues:              
 Products $ 36,850     $ 35,775     $ 107,295     $ 98,121  
 Services   64,790       54,656       183,585       158,044  
      Total net revenues   101,640       90,431       290,880       256,165  
               
Cost of revenues:              
 Products   20,468       20,957       60,044       58,873  
 Services   15,269       11,217       43,379       34,322  
      Total cost of revenues   35,737       32,174       103,423       93,195  
Gross profit   65,903       58,257       187,457       162,970  
               
Operating expenses:              
 Research and development   17,129       13,623       48,639       42,116  
 Marketing and selling   24,413       19,998       66,511       64,977  
 General and administrative   14,901       10,796       42,214       34,144  
 Restructuring costs, net   (88 )     723       1,001       1,008  
      Total operating expenses   56,355       45,140       158,365       142,245  
               
Operating income   9,548       13,117       29,092       20,725  
               
Interest expense, net   (1,646 )     (4,566 )     (5,547 )     (15,437 )
Other income, net   7,864       143       4,459       233  
Income before income taxes   15,766       8,694       28,004       5,521  
Provision for income taxes   991       707       1,832       1,546  
Net income $ 14,775     $ 7,987     $ 26,172     $ 3,975  
               
Net income per common share - basic $ 0.32     $ 0.18     $ 0.58     $ 0.09  
Net income per common share - diluted $ 0.32     $ 0.18     $ 0.56     $ 0.09  
               
Weighted-average common shares outstanding - basic   45,564       44,019       45,115       43,665  
Weighted-average common shares outstanding - diluted   46,428       44,758       46,449       44,498  
               
AVID TECHNOLOGY, INC.              
Reconciliations of GAAP Financial Measures to Non-GAAP Financial Measures        
(unaudited - in thousands)              
                 
    Three Months Ended September 30,   Nine Months Ended September 30,
      2021       2020       2021       2020  
GAAP Revenue              
  GAAP Revenue $ 101,640     $ 90,431     $ 290,880     $ 256,165  
                 
Non-GAAP Gross Profit              
  GAAP Gross Profit   65,903       58,257       187,457       162,970  
  Stock-based compensation   444       433       1,362       908  
  Non-GAAP Gross Profit $ 66,347     $ 58,690     $ 188,819     $ 163,878  
  GAAP Gross Margin   64.8 %     64.4 %     64.4 %     63.6 %
  Non-GAAP Gross Margin   65.3 %     64.9 %     64.9 %     64.0 %
                 
Non-GAAP Operating Expenses              
  GAAP Operating Expenses   56,355       45,140       158,365       142,245  
  Less Amortization of intangible assets   (105 )     (105 )     (315 )     (306 )
  Less Stock-based compensation   (3,337 )     (2,865 )     (9,473 )     (7,224 )
  Less Restructuring costs, net   88       (723 )     (1,001 )     (1,008 )
  Less Acquisition, integration and other costs   (876 )     -       (2,083 )     183  
  Less Efficiency program costs   -       (79 )     (48 )     (445 )
  Less Digital Transformation costs   (808 )         (808 )     -  
  Less COVID-19 related expenses       (3 )     (22 )     (251 )
  Non-GAAP Operating Expenses $ 51,317     $ 41,365     $ 144,615     $ 133,194  
                 
Non-GAAP Operating Income and Adjusted EBITDA              
  GAAP net income   14,775       7,987       26,172       3,975  
  Interest and other expense   (6,218 )     4,423       1,088       15,204  
  Provision for income taxes   991       707       1,832       1,546  
  GAAP Operating Income   9,548       13,117       29,092       20,725  
  Amortization of intangible assets   105       105       315       306  
   Stock-based compensation   3,781       3,297       10,835       8,132  
   Restructuring costs, net   (88 )     723       1,001       1,008  
   Acquisition, integration and other costs   876       -       2,083       (183 )
   Efficiency program costs   -       79       48       445  
   Digital Transformation costs   808           808       -  
   COVID-19 related expenses   -       3       22       251  
  Non-GAAP Operating Income $ 15,030     $ 17,324     $ 44,204     $ 30,684  
   Depreciation   2,002       2,004       6,323       6,317  
  Adjusted EBITDA $ 17,032     $ 19,328     $ 50,527     $ 37,001  
  GAAP net income margin   14.5 %     8.8 %     9.0 %     1.6 %
  Adjusted EBITDA Margin   16.8 %     21.4 %     17.4 %     14.4 %
                 
Non-GAAP Net Income              
  GAAP net income   14,775       7,987       26,172       3,975  
   Amortization of intangible assets   105       105       315       306  
   Stock-based compensation   3,781       3,297       10,835       8,132  
   Restructuring costs, net   (88 )     723       1,001       1,008  
   Acquisition, integration and other costs   876       -       2,083       (183 )
   Efficiency program costs   -       79       48       445  
   Digital Transformation costs   808           808       -  
   Gain on forgiveness of PPP Loan   (7,800 )         (7,800 )     -  
   COVID-19 related expenses   -       3       22       251  
   Loss on Extinguishment of debt   -       -       3,748       -  
   Tax impact of non-GAAP adjustments   (25 )     5       (184 )     (35 )
  Non-GAAP Net Income $ 12,432     $ 12,199     $ 37,048     $ 13,899  
  Weighted-average share count (Basic)   45,564       44,019       45,115       43,665  
  Weighted-average share count (Diluted)   46,428       44,758       46,449       44,498  
  Non-GAAP Earnings per Share (Basic) $ 0.27     $ 0.28     $ 0.82     $ 0.32  
  Non-GAAP Earnings per Share (Diluted) $ 0.27     $ 0.27     $ 0.80     $ 0.31  
                 
Free Cash Flow              
  Net cash provided by operating activities   16,521       17,955       35,418       8,843  
   Capital expenditures   (2,475 )     (2,407 )     (4,750 )     (5,619 )
  Free Cash Flow $ 14,046     $ 15,548     $ 30,668     $ 3,224  
  Free Cash Flow conversion from Adjusted EBITDA   82.5 %     80.4 %     60.7 %     8.7 %
                 
AVID TECHNOLOGY, INC.        
Condensed Consolidated Balance Sheets        
(unaudited - in thousands)        
           
      September 30,   December 31,
        2021       2020  
  Assets        
Current Assets        
  Cash and Cash Equivalents   $ 50,485     $ 79,899  
  Restricted Cash     1,422       1,422  
     Accounts receivable, net of allowances of $1,422 and $1,478    
        at September 30, 2021 and December 31, 2020, respectively     58,125       78,614  
  Inventories     22,215       26,568  
  Prepaid Expenses     6,766       6,044  
  Contract Assets     22,612       18,579  
  Other Current Assets     2,335       2,366  
Total Current Assets     163,960       213,492  
           
  Property and Equipment, Net     15,211       16,814  
  Goodwill     32,643       32,643  
  Right of Use Assets     25,202       29,430  
  Deferred Tax Assets, Net     5,413       6,801  
  Other Long-Term Assets     6,462       5,958  
Total Assets   $ 248,891     $ 305,138  
           
  Liabilities and Stockholders' Deficit        
Current Liabilities        
  Accounts Payable   $ 22,413     $ 21,823  
  Accrued Compensation and Benefits     26,320       29,105  
  Accrued Expenses and Other Current Liabilities     34,511       42,264  
  Income Taxes Payable     1,447       1,664  
  Short-Term Debt     9,159       4,941  
  Deferred Revenues     76,658       87,974  
Total Current Liabilities     170,508       187,771  
           
  Long-Term Debt     162,990       202,759  
  Long-Term Deferred Revenues     10,109       11,284  
  Long-Term Lease Liabilities     24,466       28,462  
  Other Long-Term Liabilities     7,249       7,786  
Total Liabilities     375,322       438,062  
           
Stockholders' Deficit        
  Common Stock     454       442  
  Treasury Stock     (11,169 )     -  
  APIC     1,030,116       1,036,658  
  Accumulated Deficit     (1,142,175 )     (1,168,347 )
  Accumulated Other Comprehensive Loss     (3,657 )     (1,677 )
Total Stockholders' Deficit     (126,431 )     (132,924 )
           
Total Liabilities and Stockholders' Deficit   $ 248,891     $ 305,138  
           
AVID TECHNOLOGY, INC.      
Condensed Consolidated Statements of Cash Flows      
(unaudited - in thousands)      
             
        Nine Months Ended September 30,
          2021       2020  
             
Cash flows from operating activities:      
  Net income $ 26,172     $ 3,975  
  Adjustments to reconcile net income to net cash provided by operating activities:      
    Depreciation and amortization   6,323       6,317  
    Provision for doubtful accounts   401       1,349  
    Stock-based compensation expense   10,216       8,132  
    Non-cash provision for restructuring   841       653  
    Non-cash interest expense   386       3,408  
    Loss on extinguishment of debt   2,579       -  
    Gain on extinguishment of PPP loan   (7,800 )     -  
    Unrealized foreign currency transaction (gains) loss   (1,400 )     219  
    Benefit from (provision for) deferred taxes   1,388       997  
    Changes in operating assets and liabilities:      
      Accounts receivable   20,089       12,741  
      Inventories   4,353       788  
      Prepaid expenses and other assets   (1,343 )     1,390  
      Accounts payable   590       (26,440 )
      Accrued expenses, compensation and benefits and other liabilities   (10,635 )     7,752  
      Income taxes payable   (217 )     81  
      Deferred revenue and contract assets   (16,525 )     (12,519 )
Net cash provided by operating activities   35,418       8,843  
             
Cash flows from investing activities:      
  Purchases of property and equipment   (4,750 )     (5,619 )
Net cash used in investing activities   (4,750 )     (5,619 )
             
Cash flows from financing activities:      
  Proceeds from revolving line of credit   -       22,000  
  Repayment from revolving line of credit   -       (22,000 )
  Proceeds from long-term debt   180,000       7,800  
  Repayment of debt   (208,142 )     (1,474 )
  Payments for repurchase of common stock   (10,526 )     -  
  Payments for repurchase of outstanding Notes   -       (28,867 )
  Proceeds from the issuance of common stock under employee stock plans   363       252  
  Common stock repurchases for tax withholdings for net settlement of equity awards   (17,108 )     (2,610 )
  Prepayment penalty on extinguishment of debt   (1,169 )     -  
  Partial unwind capped call cash receipt   -       875  
  Payments for credit facility issuance costs   (2,574 )     (289 )
Net cash used in by financing activities   (59,156 )     (24,313 )
             
Effect of exchange rate changes on cash, cash equivalents, and restricted cash   (927 )     1,394  
Net decrease in cash, cash equivalents, and restricted cash   (29,415 )     (19,695 )
Cash, cash equivalents and restricted cash at beginning of the period   83,638     $ 72,575  
Cash, cash equivalents and restricted cash at end of the period $ 54,223     $ 52,880  
Supplemental information:      
Cash and cash equivalents $ 50,485       49,142  
Restricted cash   1,422       1,664  
Restricted cash included in other long-term assets   2,316       2,074  
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 54,223     $ 52,880  
             
AVID TECHNOLOGY, INC.  
Supplemental Revenue Information      
(unaudited - in millions)                  
                   
  Sep 30,   Jun 30,   Sep 30,        
  2021   2021   2020          
Revenue Backlog*                  
                   
Deferred Revenue $ 86.8   $ 91.6   $ 81.2        
Other Backlog 315.0   309.4   321.7        
Total Revenue Backlog $ 401.8   $ 401.0   $ 402.9        
                   
                   
The expected timing of recognition of revenue backlog as of September 30, 2021 is as follows:        
                   
  2021   2022   2023   Thereafter   Total
                   
Deferred Revenue $ 32.2   $ 46.4   $ 4.1   $ 4.1   $ 86.8
Other Backlog 35.7   120.5   75.7   83.1   $ 315.0
Total Revenue Backlog $ 67.9   $ 166.9   $ 79.8   $ 87.2   $ 401.8
                   
*A definition of Revenue Backlog is included in our Form 10-K and the supplemental financial and operational data sheet available on our investor relations webpage at ir.avid.com.
Avid Technology (NASDAQ:AVID)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more Avid Technology Charts.
Avid Technology (NASDAQ:AVID)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more Avid Technology Charts.